Planning your vacation in Dubai? Or are you coming here for business? Regardless of the nature of your visit, you must have a good understanding of the UAE's currency. Comprehensive information on exchange rates, where to exchange, documents required, and dos & don’ts always comes in handy. Here, we offer a complete Dubai currency guide and show the best places where you can go to exchange money in Dubai.
Knowing about the UAE's Dirham
The dirham (AED) is the official currency of the United Arab Emirates. All seven states use the same currency. It’s been the case since 1973, when the AED was introduced. Most parts of Dubai used Qatari riyals and Bahraini dinars before the introduction of dirhams. Dirham helped to streamline monetary transactions and improve economic integration among the seven Emirates.
It’s important that you know that the UAE's dirham has had an anchored exchange rate with the USD since 1997. It has several benefits and keeps the value of AED consistent with the value of the United States dollar. The exchange rates usually remain the same, i.e., 1 USD is equivalent to 3.67 AED.
How do I find a currency exchange near me?
Finding a currency exchange near you in Dubai is actually very easy. All you need to do is open a browser on your phone and search “currency exchange near me.” It shows all of the best exchanges in close proximity. You must enable your phone's location for this feature.
You may also ask your hotel concierge about these locations. They will provide you with the information they know. You might be asked to exchange your money at the hotel itself. However, we recommend that you opt for exchanges outside the hotel where you stay.
Dubai is filled with numerous exchanges in every corner. You will find them on the streets, malls, metro stations, and any possible location you can imagine. It’s not hard to find exchanges in Dubai.
Money exchange in hotels and airports in Dubai
Even though hotels and airports offer money exchange services with greater convenience, you should try to avoid them at all costs. It’s because you can never get good rates in those places. Also, their service fees tend to affect your exchange rates.
Even the big names in the exchange business offer different rates at the airports. Let’s not get into the technicalities of why they do so, but you should remember that hotel and airport exchanges aren’t as good as exchanges outside.
Dubai's top 7 currency exchanges (companies)
Dubai is home to many exchange companies as it is a very prominent tourist hub. You will find all types of exchanges here, from local exchanges to multi-national companies. It can be very difficult to decide on your own, as every exchange claims to be the best. So, we have thoroughly researched and compiled a list of the top 7 exchanges in Dubai.
1. Al-Ansari Exchange
Al-Ansari is Dubai’s most popular exchange company. It was established in 1966. With 121+ branches in Dubai and 250+ branches all over the UAE, it reigns over the exchange business in the Emirates.
Popular Dubai branches:
- The Beach JBR: Kiosk No. TB-14 The Beach, Jumeirah Beach Residence
- Al Barsha Main Branch: Ground Floor, Shop No. 2, Al Ansari Business Centre, Al Barsha 1
- Al Khail Mall: Shop No. 6, Ground Floor, Al Khail Mall, Al Quoz
Services: Foreign Exchange, Money Transfer, Remittance Services, Payroll Solutions, and more.
Operating hours: 09:30 AM - 11:00 PM
Phone: +971600546000
Email: info@alansari.ae
2. Lulu International Exchange
Lulu is another popular name in the exchange business in Dubai. It has over 95 branches in the UAE. It’s a subsidiary of Lulu Group International, also popular for its Lulu hypermarkets all over the Middle East.
Popular Dubai branches:
- Jabel Ali Expo Mall: Expo Mall Building, Mezzanine Floor, Jabel Ali Ind Area
- Bur Dubai: Shop Nos. 1 and 2, Dolphin Hotel Apartment Building, Khalid Bin Waleed Road, Meena Bazar, Bur Dubai
- Dubai Silicon Oasis: Shop No.C-008, Ground Floor, Silicon Central Mall (Plot No. 24-001), Dubai Silicon Oasis
Services: Foreign Currency Exchange, Money Transfers, and Bill Payments
Operating hours: 09:00 AM - 10:30 PM
Phone: 600522204
Email: customercare@ae.luluexchange.com
3. Al Fardan Exchange
Al Fardan Exchange is a well-established name in the UAE in the money exchange business. It has 85+ branches all over the UAE. It was established in 1971. Since then, it has been providing a comprehensive range of monetary services in Dubai.
Popular Dubai branches:
- Dubai Mall, near fountain Branch: Dubai Mall
- Head Office, Dubai Branch: Al Fardan Exchange L.L.C. Head Office, Office 402, Level 4, The Onyx Tower 2
- Dubai Hills Mall: Dubai Hills Mall, LG014, Al Khail Rd., Dubai Hills Estate
Services: Currency Exchange, Remittance Services, Western Union Money Transfers, and more.
Operating hours: 09:00 AM - 12:00 AM
Phone: 600522265
Email: customercare@alfardanexchange.com
4. Al Rostamani International Exchange
Al Rostamani International was established in 1979 in Deira, Dubai. Today, it has 30+ branches all over the UAE. It offers top-tier money exchange services along with several other monetary services. It’s a reputed name in the exchange business in Dubai.
Popular Dubai branches:
- Jumeirah Village Circle (JVC): Al Barsha South, Manhattan Tower, Inside Choithram Supermarket, JVC
- Dubai Marina: Inside Choithrams Supermarket DEC Tower 2
- Dubai World Trade Center: Dubai Exhibition Hall No. 6, Dubai International Convention and Exhibition Centre, Za'abeel
Services: Foreign Currency Exchange, Retail Remittance, and Wholesale Currency.
Operating hours: 09:00 AM -10:00 PM
Phone: 600540004
Email: ARIECRD@alrostamanigroup.ae
5. Sharaf Exchange
This Sharaf Exchange is among the most popular exchanges in Dubai. It targets the 29 best places with good visibility. It's been a part of the Sharaf Group since its establishment in 1996. It has been providing a remarkable remittance and exchange service for decades.
Popular Dubai branches:
- Ibn Battuta Mall: Sharaf Exchange IBN Battuta Shopping Mall, Shop No. 2 & 3, Andalusia Court
- Jumeirah Beach Residence: Sharaf Exchange, Al Shams Bldg. Shop No. G-03, The Walk at Jumeirah Beach Residence
- Time Square Centre Mall: Sharaf Exchange Time Square Centre Mall Shop No. G-40
Services: Remittance, Money Exchange, Paycheck, and Corporate Remittance/WUBS.
Operating hours: 10:00 AM – 10:00 PM
Phone: 043554560
Email: feedback@sharafexchange.com
6. Al Ghurair Exchange
Al Ghurair Exchange has been in business for more than four decades now. They operate in 28 locations within the Emirates. You get an exceptional exchange service from them.
Popular Dubai branches:
- Deira City Center: Deira City Center, Deira
- Reef Mall: Salahuddin Street, Al Reef Mall
- Etihad Mall: Shop G05 Union Coop Building Etihad Mall, Al Khawaneej Road
Services: Salary Payments, Business Remittances, Forex, Utility Payments, and more.
Operating hours: 09:00 AM – 11:00 PM
Phone: +97142535600
Email: customercare@alghurairexchange.com
7. GCC Exchange
GCC Exchange is a highly-rated exchange company in the Emirates. Despite only having 18 branches in the country, its services have lived up to its reputation. They offer a wide range of financial services besides foreign money exchange. It’s one of the fastest-growing exchanges in Dubai.
Popular Dubai branches:
- Mall of the Emirates: TSRV5, First Level, Entrance 1, The Emirates Mall
- Deira City Center: Unit No. 87, First Floor, Deira City Centre Mall
- Deira Branch: Shop Nos. 8 & 9, Building No. 108, Al Ghurair Real Estate
Services: Remittance Services, Money Transfers, Corporate Payments, Pension Processing, and more.
Operating hours: 08:00 AM – 12:00 PM
Phone: +97142566686
Email: info@gccexchange.com
Commended mentions:
Besides the above-mentioned exchanges, you can find several others in Dubai. They also offer exchange services, you can try them and see if they provide appreciable exchange rates. Following are some honorable mentions:
- Metropolitan Exchange
- Index Exchange
- Western Union
- Orient Exchange
- Mesrkanloo International Exchange
The general exchange rates
This list includes the standard exchange rates of various (stronger) currencies from around the world at the time of writing. The rates tend to fluctuate with time, depending on various activities and their consequences around the globe.
- 1 KWD (Kuwaiti Dinar) = 11.93 AED
- 1 OMR (Oman Riyal) = 9.54 AED
- 1 JOD (Jordanian Dinar) = 5.18 AED
- 1 GBP (Pound Sterling) = 4.58 AED
- 1 CHF (Swiss Franc) = 4.02 AED
- 1 EUR (Euro) = 3.91 AED
- 1 PAB (Panamanian Balboa) = 3.68 AED
- 1 USD (United States Dollar) = 3.67 AED
- 1 SGD (Singapore Dollar) = 2.70 AED
- 1 BND (Brunei Dollar) = 2.70 AED
- 1 CAD (Canadian Dollar) = 2.67 AED
- 1 AUD (Australian Dollar) = 2.38 AED
- 1 NZD (New Zealand Dollar) = 2.18 AED
These exchange rates might not resonate with all the exchanges in Dubai. Every exchange has its own buying and selling rates, and their service charges also come into account. But you get a similar rate no matter which exchange you choose.
Disclaimer: The above-mentioned exchange rates are subject to change. So, you should consider using exchange calculators or Google’s currency converter for the exact rates at the time of reading.
Documents you need while exchanging currency in Dubai
You don’t need a lot of documents to exchange your home country’s currency for dirhams in Dubai. Your national ID or passport is mandatory. They can also ask you for your contact details.
You might need to provide the exchange with travel documents or proof of address, such as hotel booking confirmations and rental agreements. These are completely optional and entirely depend on the policy of the exchange house.
This situation generally arises when exchanging a larger sum of money. It’s their responsibility to ask for such documents for AML (Anti-Money Laundering) purposes. So, it’s wise to carry all your documents and avoid complications.
Moreover, exchanging money in Dubai is very simple and effortless.
Tips that will help you exchange money in Dubai
You should be very cautious and well-researched before and while exchanging your hard-earned money in Dubai. Securing the best exchange rate must be your goal. So, the following tips should help you achieve that:
- Always pick the top exchanges: You should exchange your money with renowned exchanges at all times. They offer more security, compliance, and convenience.
- Don’t fall for the "zero fee" exchange: No commissions or zero exchange fees might sound alluring, but the reality can be completely different. Usually, these exchanges offer lower rates to maintain their service charges.
- Check the current exchange rates: You should check the exchange rates on Google. It offers the most relevant rates. So, you know if you are getting the correct equivalence. Even the exchange companies use Google as their reference point.
- Contact the exchange companies: Reach out to them via phone or online to get a better understanding of the exchange rates. Pick the one that offers the best exchange rate.
- Avoid exchanges at hotels and airports: Generally, hotels and airports offer lower exchange rates. It’s better if you opt for other alternatives and get better rates.
- Use bank ATMs in partnership with your country’s banks: If you need to use an ATM to withdraw money in Dubai, choose international banks that have partnerships with your bank back home. Saving on ATM fees can be fruitful.
- Local currency is the way to go: Always opt for local currency (AED) to pay for services and products in Dubai. Undisclosed exchange rates can cost you extra.
For those who prefer card payments and money withdrawals via ATMs, you should always check with your bank (back in your country). Understanding their services, terms, and conditions will help you choose the best option.
Dubai offers a wide range of exchanges throughout the state. You’ll never run out of them. With a little bit of research, you’ll find the best places to exchange money in Dubai. Follow the above-mentioned tips to secure the best exchange rates for your money.
Frequently Asked Questions
Can I use my international card in shops?
Yes, you can use your international card in Dubai’s shops, restaurants, and hotels. Almost all the service providers in Dubai accept international Visa and Mastercard. A few of them also accept other cards, such as American Express, Diners Club, and Union Pay. It’s a good idea to inform your card issuer of uncomplicated and uninterrupted services in Dubai. They might block your card for suspicious activity. Pre-checking with the card issuer will let you stay in the loop about service charges and DCC (dynamic currency conversion). Finally, always choose local currency when it comes to DCC. It helps you avoid DCC fees.
Where can I exchange money at Dubai Airport?
There are several money exchanges at Dubai Airport. You can find exchanges like Al-Ansari and Travelex at the airport. But we recommend you skip these exchanges. It’s better to exchange your money at exchanges outside the airports and hotels for better conversion rates.
Should I use my international credit cards or carry cash in Dubai?
Carrying both international credit cards and cash can come in handy. As mentioned above, you can use international cards in Dubai without issue. But some places might accept only cash payments. So, having both is good for making payments conveniently. Having said that, carrying only cash is also fine while shopping for products and services in Dubai. It simplifies your payment process.
Are there any currency exchange fees or charges in Dubai?
Yes, there are currency exchange fees in Dubai. It’s one of several ways the exchange makes money. These exchange fees vary from one service provider to another. Also, the nature of the currency and amount determine the service charges. For instance, exchanging less common currencies can lead to higher charges.
Can I exchange money outside the regular business hours in Dubai?
Usually, most exchange companies offer their service for at least 15–16 hours per day. They close their counters after midnight and reopen at 8:00 AM – 10:00 AM. These are the usual business hours for exchange companies. These schedules can change on Sundays, usually a bit short. However, hotels and airports keep their exchange counters running around the clock. So, you can exchange money outside the regular business hours in Dubai.
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